Shares Telatoc Health (NYSE: TDOC) It has fallen from post-epidemics this summer, but the company’s business has not stopped growing at a mind-boggling pace. Now the stock has fallen to a very reasonable valuation, with investment bank Baird today offering an upgrade and a $ 220 price target, 18% higher than Thursday’s closing price.
Researchers are encouraged by the strong and lasting improvement in Delatok’s services throughout the corona virus epidemic. Teletock’s network of providers delivered more than 2.8 million virtual visits in the third quarter, more than three times the number of visits in the previous year.
Exploding attendance is gaining access by new patients, and the utilization rate is doubling per year. Despite the fact that more healthcare providers offer personalized services in the third quarter, Teletock reported an annual utilization rate of 0.5% higher than second-quarter figures.
Although some investors are upset by the company’s decision to merge with Livongo earlier this year, the consolidated business is already helping Delatok win new customers. The new client cross-sale, which took place before the company officially concluded its acquisition of Livongo at the end of October, expects Delatok to at least double bookings in the fourth quarter.
Livongo helps people manage chronic health conditions with the help of devices that monitor health signals and make recommendations in real time. When Delatok offered its merger opportunity, Livongo’s primary diabetes service boasted about 410,000 members, representing a small fraction of the 34.2 million Americans affected by diabetes.